Southern standard. (McMinnville, Tenn.) 1879-current, 1887-10-01
Washington Letter.
WASHINGTON, Sept. 26, 1887

lIldl lIc dCllUIl VI tllS OON6ILlllcuI
in issuing a call for the purchase of
fourteen millions in bonds was wise
and timely, is the opinion of able and
experienced financiers in all portions
of the country, and there is also a
general feeling that a financial crisis
was narrowly averted-due directly
to the constant and enormous absorb
ton of the currency by the immense
surplus that continues to accumulate
with startling persistency. l know
of certain staunch and extensive bust
ness firms, in some great commercial
centers of the Union, that were abso-
lutely unable to place loans, with the
best collateral, at 20 per cent. The
ready response to the Treasury's
measure of relief has been so satisfac-
tory that it is believed that there will
be no further tightness generally seri-
ously felt in the money market until
Congress will have the opportu-
nifty to provide permanently for the
country's ills, brought on by the
canker-worm of our body politic-the
Treasury surplus-our troublesome
heritage from the unsound fiscal poll
cy of the Republicans.
The President and Secretary Bay
ard had a conference, lasting nearly a
day, the past week, during which
several Congressman were denied
audience, and it is supposed that some
affair Of state of grave i~mport-per-
haps to solve the fisheries problem
was under discussion, though nothing
has yet TRANSFERRED to indicate the sub
ject matter of the consultation.
The Commissioners of Internal Rev.
enue is preparing a statement that
will show to what extent the Gov
eminent receipts would be decreased
by a total repeal of the internal reve-
nue. taxes, and the result, so far, is
interesting in one aspect, at least, as
showing a decided change in the
bibulous tendencies and inclinations
of the citizens of the United States.
1t appears that as compared with the
previous fiscal year there has been a
great falling off in the manufacture
of whisky-the decreased taxation
amounting to nearly three millions
and three quarters-the decline hav-
ing been noticed for a number of
years past. But, on the other hand,
the manufacture of beer is so rapidly
increasing that it may now be termed
the national beverage, the increased
taxation of the past year showing a
gain of about two million and a hall
dollars over the preceding year. AT
an early date the Commissioner pro-
poses to have an analytical test made
of every brand of American beer, as
it is alleged that many brewers use
more alcohol in making their beer
than the law allows, hence it is
thought the analysis will cause q
sensation. The Commissioner of In.
ternaI Revenue states it as his belief
that the steady decrease in the manu-
facture of distilled spirits is due to the
rapid growth of temperance reform
in this country.
While all is so quiet in politics
this being an off year-it may startlt
if it does not awe your readers, thai
a new Presidential ticket and a won
derful combination it is, too, linking
as it does two of the great names O
the nation, has been launched here ir
the Capital. And well may Presi
dent Cleveland, as he realizes the
strength of this Combine" quake ir
his boots,a as he sees his vision of a sec
ond term vanish into thin air, fol
how does he dare to oppose thu
Presidential aspirations of thos'
mighty men of renown, those emf
nent statesmen who will favorably
compare with the fathers of the Re
public-Lincoln and Douglass! Yes
l repeat it, Robert Lincoln and Fred
erick Douglass. The glorious deeC
was done at a banquet given to Doug
lass, the intellectual giant of the ne
gro race, on the anniversary of eman
cipation day, and though, by
strange coincidence, Robert, the sol
ofhis father, happened to be in thi
city at the same time, l do not know
that he is committed to the move
ment, yet his presence here on sucl
an occasion may be significant.
The frisky and hayward Riddle
berger, feeling that he has been snub